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Nov 24, 2024
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AGSC 309 - Resource Economics (3 units)
Economics of renewable (land, water, air, forests, etc.) and non-renewable (fossil fuels, minerals) resource use, conservation, valuation, policy design and implementation. (AGSC 309 and ECON 309 are cross-listed; credit may be earned in one of the two.)
Prerequisite(s): ECON 102 .
Grading Basis: Graded
Units of Lecture: 3
Offered: Every Spring - Odd Years
Student Learning Outcomes
Upon completion of this course, students will be able to:
1. apply criteria for evaluating whether the rate of natural resource extraction and use is faster (or slower) than is economically efficient.
2. evaluate which segments of society gain and lose under alternative regimens for resource extraction and use.
3. identify market-based and regulatory methods designed to fully incorporate opportunity costs of natural resource use into economic decision-making, and evaluate circumstances for which various methods are more or less advantageous than others.
4. identify the sources of market failure that result in overuse, and apply the concept of opportunity cost as a method to measure the cost of market failures as they affect natural resource use.
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